University  oj  Alontana 


BULLETIN   NUMBER   5; 


Ci7Xttla7'  of  Information 

FOR  INTENDING  APPLICANTS 
FOR    CERTIFICATE    AS 

(Certified  Public  /I ccountant 

UNDER  THE  LAW  OF  MONTANA 
IN  EFFECT   FElJRtJARY  27,  1909 


MISSOULA,  MONTANA 

1909 


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University  of  Aiontana 


BULLETIN  NUMBER  57 


Circular  of  Information 

FOR  INTENDING  APPLICANTS 
FOR    CERTIFICATE    AS 

Qertified  Public  /I ccountant 

UNDER  THE  LAW  OF  MONTANA 
IN  EFFECT  FEBRUARY  27,  1909 


MISSOULA,  MONTANA 
1909 


UNIVERSITY  COMMITTEE  ON  ACCOUNTANCY 


Professor  JOSEPH  H.  UNDERWOOD 
Professor  LOUIS  C.  PLANT 
President  CLYDE  A.   DUNIWAY 


BOARD  OF  EXAMINERS  IN  ACCOUNTANCY 


LOUIS  G.  PELOUBET,  C.  P.  A.,  Hennessy  Building,  Butte. 
J.  C.  PHILLIPS,  C.  P.  A,  Miner  Building,  Butte. 
DONALD  ARTHUR,  C.  P.  A,  Lewisohn  Building,  Butte. 

Office  of  the  Board — 413  Hennessy  Building,  Butte. 


EXAMINATIONS  FOR 

THE  CERTIFICATE  OF 

CERTIFIED  PUBLIC  ACCOUNTANT 


Chapter  39  of  the  Session  Laws  of  1909,  enacted  by  the 
Eleventh  Legislative  Assembly  of  the  State  of  Montana, 
effective  February  27th,  1909,  provides  for  the  regulation 
of  the  practice  of  public  accounting  in  this  State.  The 
State  University  administers  this  law  and  issues  certifi- 
cates of  competency  to  any  person  who : 

(1)  Is  a  citizen  of  the  United  States  or  who  has  in  good 

faith  and  in  the  manner  required  by  law  declared 
his  intention  of  so  becoming; 

(2)  Is  of  the  age  of  21  years; 

(3)  Is  of  good  moral  character; 

(4)  Is  a  graduate  of  an  accredited  High  School  or  has  had 

an  equivalent  education; 

(5)  Has  had  three  years'  practical  experience  in  account- 

ing acquired  in  practice  on  his  own  account,  or  in 
the  office  of  a  public  accountant,  or  in  a  responsible 
accounting  position  in  the  employ  of  a  business  cor- 
poration, firm  or  individual ; 

(6)  Has  successfully  passed  certain  written  and  oral  ex- 

aminations prescribed  by  the  law,  or 

(7)  Is  exempt  under  the  section  of  the  law  applicable  to 

persons  having  certificates  of  other  states  or  coun- 
tries, or  under  the  provision  for  the  exemption  of 
experienced  accountants  now  practicing  in  the 
State;  and 

(8)  Has  paid  in  advance  the  fee  of  twenty-five  dollar's,  as 

prescribed  by  the  law. 
The  above  mentioned  examinations  are  ^held  at  least 
once  each  year  and  at  least  thirty  days'  notice  of  the  time 
and  place  of  holding  is  given  by  advertisement  in  three 
representative  daily  newspapers  of  the  State. 


The  first  examination  will  be  held  December  15th  and 
16th,  1909,  and  thereafter  annually  in  December  or  semi- 
annually in  June  and  December. 

Candidates  for  the  examinations  may  obtain  applica- 
tion blanks  from  the  Uniyersity  or  from  any  member  of  the 
Board  of  Examiners. 

The  application  blank  must  be  filled  out  in  the  candi- 
date's own  handwriting  and  signed  and  sworn  to  by  the 
candidate  in  the  presence  of  some  one  authorized  under 
the  laws  of  Montana  to  administer  an  oath,  and,  together 
with  a  bank  draft  or  money  order  for  twenty-five  dollars 
(125.00),  payable  to  "University  of  Montana'',  be  mailed 
to  the  University  at  Missoula. 

If  the  University  approves  the  application  the  candi- 
date will  receive  a  card  of  admission  to  the  examination, 
and  if  he  succeeds  in  passing  the  examination  he  will  in 
due  course  receive  a  certificate. 

If  the  University  does  not  approve  the  application,  the 
candidate  will  be  duly  notified  of  that  fact  and  the  fee  will 
be  returned. 

In  no  event  will  the  fee  of  twenty-five  dollars  (|25.00) 
be  returned  to  the  applicant  after  his  application  has  been 
approved,  but  any  candidate  failing  to  pass  the  examina- 
tion is  entitled  to  take  any  one  subsequent  examination 
without  payment  of  a  second  fee. 

To  insure  consideration  applications  should  be  in  the 
hands  of  the  University  at  least  two  weeks  before  the  date 
set  for  the  examination. 

The  provisions  of  the  law  are  carried  out  by : 

(a)  A  University  Committee  on  Accountancy — consisting 

of  three  members  of  the  Faculty ; 

(b)  A  Board  of  Examiners — consisting  of  three  certified 

public  accountants  of  the  State  of  Montana  appoint- 
ed by  the  President  of  the  University. 
The  law  provides  for  the  revocation  of  certificates  for 
unprofessional  conduct  or  other  sufficient  cause  and  for 
the  punishment  of  any  person  falsely  representing  himself 
as  being  a  Certified  Public  Accountant  or  as  holding  such 
a  certificate. 


QUALIFICATIONS  FOR  EXAMINATIONS 


The  following  qualifications  should  insure  the  success- 
ful passing  of  the  examinations: 

(1)  A  good  mathematical  foundation. 

(2)  A  comprehensive  knowledge  of  bookkeeping. 

(3)  A  knowledge  of  the  fundamental  principles  of  com- 

mercial law  and  the  rules  of  evidence. 

(4)  A  knoA\ledge  of  business  organization  and  manage- 

ment. 

(5)  Ability  to  speak  and  to  write  the  English  language 

clearly  and  concisely. 

(6)  Familiarity  with  the  thcHiry  and  practice  of  analytical 

accounting. 

(7)  Familiarity  with  the  theory  and  practice  of  construc- 

tive accounting. 

(8)  A  knowledge  of  the  subjects  of  commercial  arithmetic, 

commercial  geography,  industrial  history,  business 
ethics  and  the  elements  of  constitutional  law. 

(9)  The    personal    (|ualifications    of    integrity,    business 

acumen  and  logical  reasoning. 


APPLICATIONS   UNDER  THE  WAIVER 

CLAUSE 


The  law  (section  4)  exempts  from  examination  the 
following  applicants : 

First,  those  who  hold  certificates  as  '^Certified  Public 
Accountant"  in  another  State  extending  like  privilege  to 
this  State;  provided,  that  in  the  opinion  of  the  Board  of 
Examiners  the  requirements  for  such  certificates  are  equiv- 
alent to  the  requirements  in  this  State. 

Second,  those  holding  similar  certificates  of  another 
country,  the  requirements  for  which  are  equivalent  to  those 
in  this  State;  provided,  that  the  applicant  is  either  a 
citizen  or  has  'declared  his  intention  to  become  such. 

Third,  persons  of  at  least  twenty-five  years  of  age, 
whose  qualifications  are  equal  to  those  prescribed  for  ap- 
plicants for  examination,  who  are  known  to  the  Board  of 
Examiners  as  competent  and  skilled  accountants;  pro- 
vided, they  shall  apply  for  certificates  within  one  hundred 
and  eighty  days  after  the  passage  of  the  act. 

Applicants  under  any  of  these  provisions  may  obtain 
blanks  from  the  University  or  the  Board  of  Examiners 
and  must  pay  the  fee  of  twenty-five  dollars  as  prescrilied. 
These  applications  will  be  acted  upon  in  the  same  manner 
as  those  for  examination. 


STANDARD  OF  EDUCATION 


The  Montana  law  regulating  the  practice  of  the  pro- 
fession of  public  accounting  fixes  the  standard  of  general 
education  required  for  the  certificate  and  imposes  upon  the 
State  Universitv  the  duty  of  fixing  the  standard  of  special 
and  technical  education  to  be  required.  The  University 
accordingly  states  the  following  policy  for  the  guidance  of 
practicing  accountants : 

(a)  That,  potentially,  accountancy  is  a  learned  profession ; 

(b)  That,  in  practice,  accountancy  has  not  yet  reached  the 

professional  plane,  but  is  progressing  in  that  direc- 
tion; 

(c)  That  educational  institutions  cannot  elevate  account- 

ancy to  the  dignity  of  a  liberal  profession  without 
the  aid  of  the  practicing  accountants  themselves, 
nor  can  the  practicing  accountants  do  so  without  the 
aid  of  the  schools; 

( d )  That  the  attainment  of  the  professional  plane  depends, 

first,  upon  the  establishment  by  educational  institu- 
tions of  courses  covering  subjects  essential  to  the 
highest  development  of  accountancy;  and,  second^ 
upon  the  efforts  of  each  practicing  accountant  to 
increase  and  broaden  his  own  education ; 

(e)  The  University  therefore  instructs  the  Board  of  Ex- 

aminers first  appointed  under  the  law  that  the 
standard  of  special  and  technical  education  now  to 
be  adopted  shall  be  fixed  by  the  existing  facilities 
for  acquiring  an  education  in  accountancy  and  by 
the  average  standard  of  the  body  of  public  account- 
ants at  present  in  practice;  and  further,  that  the 
standard  so  fixed  must  be  raised  from  time  to  time 
to  keep  pace  with  the  greater  facilities  furnished 
and  the  advances  made  by  the  practicing  account- 
ants themselves. 


3  0112  105733387 


BUTTE  MINER  CO 


